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By Trend

The upper house (Senate) of the Uzbek parliament approved the country’s state budget for 2017 on December 13 with the deficit of one percent (2.4 trillion soums) of the forecasted GDP volume, Trend correspondent reported from the Senate’s session.

The official exchange rate is 3,203.7 UZS/USD on Dec. 13.

Revenue part of the state budget will be 44.5 trillion soums (19.2 percent of the GDP) in 2017, expense part – 46.9 trillion soums (20.2 percent of the GDP).

Presenting the document, Uzbekistan’s First Deputy Prime Minister and Finance Minister Rustam Azimov said that budget parameters were developed by taking into account the GDP growth by 7.8 percent planned for 2017, industrial production – by more than 8 percent, agricultural production – by 6.2 percent, volume of capital investments – by 9.6 percent. Inflation is planned to be kept within the range of 5.7-6.7 percent.

Funds, which will be allocated for social sphere and social support of the population, are planned at the level of 59.6 percent for 2017, as compared to 59.5 percent forecasted on the results of 2016.

The financial document, approved by the Senate, will be presented to Uzbekistan’s president in order to be signed.

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